Personal loans

£1,000 - £2,999

A competitive rate of 18.4% APR representative on loans from £1,000 to £2,999. Available to online customers only, over a 1-3 year loan term.

The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Loans available to UK residents and over 18s only. Subject to status.

18.4% APR representative

£3,000 - £4,999

A competitive rate of 12.3% APR representative on loans from £3,000 to £4,999.

The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Loans available to UK residents and over 18s only. Subject to status.

£5,000 - £7,499

A great low rate of 5.7% APR representative on loans from £5,000 to £7,499.

The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Loans available to UK residents and over 18s only. Subject to status.

£7,500 - £15,000

A great low rate of 4.1% APR representative on loans from £7,500 to £15,000.

The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Loans available to UK residents and over 18s only. Subject to status.

£15,001 - £25,000

A great low rate of 6.1% APR representative on loans from £15,001 to £25,000. Apply online or if you'd rather speak to someone call us on 0845 600 6768.

The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Loans available to UK residents and over 18s only. Subject to status.

Key features

How could a loan from Tesco Bank help you?

You could use your personal loan from Tesco Bank to purchase a new car, make some home improvements or organise your finances into one fixed monthly payment.

  • Fixed rate for the length of your personal loan
  • No set up charges
  • Fixed monthly payments on your chosen date
  • Payment break option at the start of your loan subject to eligibility. Click on the payment break option tab above for more information

Payment break option

Subject to eligibility

Eligible customers have the option to apply for a two-month payment break before starting their monthly payments.

  • Only available at start of loan
  • Up to three months payment-free until your first repayment is taken
  • Interest will be charged during the payment break, and your overall loan period will be extended by two months which means that you will pay an extra two months interest
  • Your offer documentation will detail the terms of the payment break. Please read carefully the documentation sent to you

Important info

Key information

The information below summarises our loan features and is not intended to replace any terms and conditions.

Interest charging information

The interest rate is fixed for the life of the loan. Interest is calculated on a daily basis.

Repayment information

Your payment is made by monthly direct debit from the account the loan is paid into. Your first payment will be made one month after issue of the loan and there are no mid-term payment breaks.

You can defer your payment by two months, subject to eligibility, at the beginning of your loan. If this option is taken the first payment would be taken the third month after the issue of the loan. Interest continues to accrue during the break period.

Repayment period

Any term from 12 months to 120 months.

Application/arrangement fee

No set up fees apply.

Optional features

We offer an optional courier service for £50 which means you could receive your loan documents faster. Next day delivery is available to bookings made before 4.00pm Monday to Thursday. Delivery is available between 9.00am and 10.00pm Monday to Friday with a reduced service on Saturdays. Saturday service may not be available for Northern Ireland or the Highlands and Islands.

A charge of £50 for this service will be charged in addition to the first monthly payment. This is not added to your loan amount and interest is not charged.

Default fees

We will charge £12 each time a loan payment is not made on time and £12 when a default notice is issued.

Early settlement

You will be charged up to two months interest if you choose to settle your personal loan from Tesco Bank early.

Tesco Bank subscribes to the Lending Code. We recommend you read A guide to the Lending Code for Customers. Full details of the code are available from the Lending Code Standards Board website.

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